More Rate Increases Planned by MasterCard Worldwide® (WayTooHigh.com®)

February 28, 2007

On April 1, 2007, in yet another brazen disregard for its two core customers – retailers and consumers, MasterCard Worldwide® is preparing to raise interchange fees again, according to a report in Digital Transactions. Yes, they will lower some, but they are raising others. This time, they have posted the adjustments in a 100-page script that is sure to further galvanize even more interest in what we assert is unbridled, anti competitive price-fixing at levels our nation has never seen before. Last time, the rate schedule was just 72-pages. As an entrepreneur, ecommerce and retail business owner, we have not a clue what the new rates are. It’s a bundle of confusion. At least when the US Post Office announced planned rate increases yesterday there was justification due to fuel and related costs. But, as technology continues to cut and lower costs, why is it that the member banks and MasterCard are again antagonizing its customers, especially when they are facing what might be the most costly antitrust litigation in our nation’s history.

The credit card networks no longer must transfer large numbers of paper receipts and these fees are no longer cost-based, so what exactly is the justification to reap more windfall revenues?

Rather than a 100-page confusing online rate structure, a more genuine action would be to
post the exact interchange fee on every credit and debit card receipt.

Click here to view the MasterCard Worldwide U.S. and Interregional Interchange Rates effective April 1, 2007.

Click here for an informational news account reported by Digital Transactions (Feb. 28, 2007).

[Source: WayTooHigh.com®, via Digital Transactions]

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"Credit Cards Charge Outrageous Fees" (Congress Blog)

February 27, 2007

"Concerns Over Credit Card Fees" (CBS)

February 22, 2007

Look at What Visa® is Up to Now (WayTooHigh.com)

February 22, 2007

The organization that “has the financial support from Visa USA®, is up to new tricks. We have long followed the “grassroots” gamesmanship of the Americans for Consumer Education and Competition, but their latest scheme called StopCheckOutFees.com is more than reaching.

Although we are also quoted and named within its silly site, we are in good company. The headline: “Mega Retail Corporations are Suing to Add Check-out Fees.” Our company (30 Minute Photos Etc.) certainly is not a mega-corporation, but rather an entrepreneurial ecommerce and retail business which was the first to launch the antitrust litigation against the two leading card associations and member banks. The mega-corporation is the banking industry battling us, the millions of merchants across the nation seeking to terminate the nearly $40 billion hidden tax on consumers and retailers.

The name tag printed in the photo on their website says: “Big Store Bob,” but for accuracy it should say: “Big Bank Bob.”


The new website almost has it right. but, rather showing a giant charge card receipt listing the total, tax and “check out fee,” imagine if after the line item “total charge,” if consumers and retailers saw the exact merchant interchange fee for every transaction clearly printed on every receipt.

[Source: WayTooHigh.com]


Is MasterCard’s new Ad Campaign Disingenuous? (WayTooHigh.com)

February 21, 2007

Sunday evening, on the ABC-TV network , during the biggest awards show, MasterCard Worldwide® will debut a series of tv spots to showcase how fast and convenient their PayPass® cards are. But, as a retailer and ecommerce business owner, there is an even more pronounced benefit: greed. With nearly $40 billion dollars in hidden merchant interchange taxes forced on consumers and retailers in each year, there is, in our opinion, a level of misrepresentation. More important than speed and convenience are the charges levied on consumers and merchants which in most cases are invisible, even though it can range as high as 5% and more for merchant interchange fees. A more priceless spot, which would win raves from retailers is if one of the commercials presented equal time for honestly depicting the hidden costs of their payment system.

[Commentary: WayTooHigh.com]


Is MasterCard’s new Ad Campaign Disengenuous? (WayTooHigh.com)

February 21, 2007

Sunday evening, on the ABC-TV network , during the biggest awards show, MasterCard Worldwide® will debut a series of tv spots to showcase how fast and convenient their PayPass® cards are. But, as a retailer and ecommerce business owner, there is an even more pronounced benefit: greed. With nearly $40 billion dollars in hidden merchant interchange taxes forced on consumers and retailers in each year, there is, in our opinion, a level of misrepresentation. More important than speed and convenience are the charges levied on consumers and merchants which in most cases are invisible, even though it can range as high as 5% and more for merchant interchange fees. A more priceless spot, which would win raves from retailers is if one of the commercials presented equal time for honestly depicting the hidden costs of their payment system.

[Commentary: WayTooHigh.com]


"EU’s Kroes Underscores Plan to Investigate Visa" (via Reuters)

February 19, 2007